The Malaysian Consumers Association (Maconas) has urged the government to scrap the subsidy on sugar which costs about RM720m annually. Its president Tan Sri Darshan Singh Gill said if the subsidy was to go on, it would increase to RM1bn in due course. (Bernama)
Malaysia and China's southwestern Yunnan province will sign a memorandum of understanding next year to jointly promote tourism between both sides, Tourism Minister Datuk Seri Dr Ng Yen Yen said. (Bernama)
Many companies in the country are not optimistic in forecasting a rise in the rate of salary increase for 2010 amid uncertainties over economic recovery. Malaysian Employers Federation (MEF) vice president A. Wahab Bakar said a survey conducted by the federation found that companies expected to grant the same rate of salary increase as in 2009. (Bernama)
It could take five to 10 years to create an innovation hotspot in Malaysia, says a world economic expert. An Economic Advisor of the World Bank Institute, Dr Shahid Yusuf, said an innovation hotspot was an important aspect in producing high-tech products that could contribute to the country's economic growth. (Bernama)
Malaysia must move towards high quality economic growth based on productivity, technology, innovation and creativity to become a high income economy among developed countries. Minister in the Prime Minister's Department, Tan Sri Nor Mohamed Yakcop said in a challenging environment, productivity was important for achieving Vision 2020 as well as to form a new economy. (Bernama)
Malaysia probably needs a combination of factories that make high technology products and a vibrant services industry to get its targeted 6% annual economic growth, a World Bank Institute economist said. (NST)
There are signs of recovery in the country’s export with regional trade picking up the slack of traditional export markets, said Federation of Malaysian Manufacturers president Tan Sri Mustafa Mansur. Nevertheless the overall picture for export is still unstable, according to Mustafa. (The Star)
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